Equinor Expands U.S. Portfolio With Key Offshore Wind Lease In Central Atlantic

8/15/2024 2:19:02 AM

(MENAFN- Trend News Agency) BAKU, Azerbaijan, August 15. Equinor has emerged as a provisional winner in the Bureau of Ocean Energy Management's (BOEM) offshore wind energy lease auction in the U.S. Central Atlantic region, Trend reports.

The company secured a lease for a site capable of generating approximately 2 GW of wind energy - enough to power around 900,000 U.S. homes. With a bid of $75,001,001, Equinor won the rights to 101,443 acres located 26 nautical miles off the coast from the mouth of the Delaware Bay, one of two fixed-bottom lease areas offered in the auction.

Following this success, Equinor will collaborate with BOEM to finalize the lease, and pending regulatory approvals, the Central Atlantic site will join Equinor's expanding U.S. offshore wind portfolio.

"Equinor is pleased to be named the provisional winner in the Central Atlantic offshore wind lease auction," said Molly Morris, President of Equinor Renewables Americas. She emphasized that the company's participation aligns with its strategy to pursue attractive offshore wind opportunities in the U.S., where the Central Atlantic region is experiencing a surge in electricity demand and widespread support for renewable energy integration.

Pål Eitrheim, Equinor's executive vice president for renewables, highlighted the significance of this achievement, stating, "Today's announcement reaffirms Equinor's commitment to delivering value through renewable projects. This lease represents a long-term opportunity, with the first power expected after 2035. We will leverage Equinor's extensive experience in offshore wind to carefully develop this project, minimizing risks and ensuring a strong addition to our portfolio."

Equinor's success in the Central Atlantic lease auction adds to its recent offshore wind milestones on the East Coast, including ongoing construction at the South Brooklyn Marine Terminal and offshore work for the Empire Wind 1 project.

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